The Power Of I 2012

Pedalling ahead

India’s largest bicycle manufacturer is reinventing itself to tap developed markets

Photographs by Vishal Koul

The capital’s affluent and powerful frequently hobnob at the exclusive Delhi Golf Club where Pankaj Munjal, co-chairman and managing director of Hero Cycles, is a lifetime member. “I almost feel like I was brought up here,” he says of a passion for golf that has burned strong for years. He brings the same enthusiasm to this new role. Last May, Pankaj succeeded his father, O P Munjal, youngest of the four brothers who founded the company that has grown to become the world’s largest manufacturer of cycles. In less than a year as head of a company that’s now part of a much larger group, Pankaj Munjal has given a renewed, yuppier focus to the original cycle business.